Economics
Remote Work Means Pay Cuts for White Collar Workers in NYC
- Marketers and designers earn 50% more in cities like New York
- Option to live in cheaper places could reshape the economy
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Companies in America’s costliest cities are paying at least 40% more for most white-collar jobs than the average wage in other U.S. regions, according to Upwork, a global freelancing platform.
But the remote-work trend, accelerated by Covid-19, is likely to change that and potentially reshape the economy in the process, Upwork economist Adam Ozimek wrote in a report released Thursday.